Pricing strategies for selling your home
There is a saying in real estate: "ask less, get more". In other words, set a reasonable asking price and you may actually get a higher selling price.
With proper marketing and full exposure to all potential buyers, your home will receive a range of offers. My objective is to ensure that we get a sale price at the very top end of that range, and setting a reasonable asking price often helps achieve that goal. Here's why.
Psychology plays a very important role in real estate. Emotions are pivotal in real estate transactions, and you want to get buyers' emotions working for you when selling. Remember, serious buyers know the market very well, as they have probably been looking for months and have seen all the houses similar to yours. When your home comes on the market, they will come to see it within days if it is well priced. If it is not, they will know and may not bother to look at all. If one buyer thinks it is good value, so will the others. They will be aware of the interest in your home, which will fuel their desire for it as they know others want it too. The fear of missing it, if the situation is handled properly, can create a competition with two or more offers at the same time. This puts you in the driver's seat and the buyers may then offer slightly more than fair market value. There is no rule that buyers will offer a certain percentage below the asking price. If they are serious, they will offer what they feel is needed to get their future home.
